Barney Frank Will Seek Re-Election

Rep. Barney Frank, the 70-year-old Democrat from Newton, announced Thursday that he will seek re-election in 2012.

Before the announcement, many had speculated that Frank would retire as Massachusetts is set to lose a House seat in redistricting.

In a statement, Frank said that he hopes to win re-election in part to defend the financial reform overhaul he helped pass last year and to try to reduce the country's military spending.

Frank, the representative of the state's 4th Congressional District, which stretches from Newton south to New Bedford, has served continuously since 1980. He's in his 16th term.

The full text of Frank's announcement:

I will be running for re-election to the House of Representatives in 2012.

While I would have preferred to put off a discussion about the next election until a later date, I have been asked on a number of occasions about my plans. In addition, I have become convinced that making my decision to run for re-election known is important for maximizing the impact I can have on the range of issues to which I am committed. These issues require a time commitment longer than the next two years.

There are two issues in particular that are of central importance. The first is to defend the Wall Street Reform and Consumer Protection Act, which will substantially diminish the likelihood of the risky and irresponsible behavior which led to the current economic crisis. The law is already under attack by those who oppose meaningful regulation and who would undermine it, either by pressuring regulators to weaken the law or by underfunding agencies such as the SEC and CFTC which are charged with administering it. The House Republican leadership has been very explicit about this, specifically targeting stronger regulation of derivatives, the independent Consumer Financial Protection Bureau, and restrictions on excessively risky behavior by federally-insured banks. If these opponents of reform are successful, it will put American workers and families at risk of suffering the effects of another economic meltdown. I intend to do everything in my power to fight their efforts.

My second national priority is to reduce significantly America’s swollen, unnecessary, worldwide military footprint – this is the only way to reconcile the need for us to spend wisely, to promote our economy and to accomplish substantial deficit reduction. Failure to address excessive military spending will either add to the deficit or force cuts in education, police, fire, transportation, scientific research, food safety, and infrastructure investment. The disparity between the cost of America’s legitimate security needs and the money we spend to maintain a worldwide military presence is the single greatest obstacle to responsible deficit reduction. While in the past it has appeared to be politically impossible to make reasonable cuts to excessive military spending, there are recent encouraging signs, including the bipartisan work I have done with Congressman Ron Paul. I will continue to make this a major part of my work in order to improve our economy and preserve our quality of life.

While these two issues are central to our ability to return to a full-employment economy while protecting our quality of life, there are other national and regional issues on which I will be working as well — protecting the fishing industry in Massachusetts from arbitrary, unjust and unfair actions; fighting for full legal equality for all citizens; providing for the housing needs of low-income people, not by pushing them unwisely and unsustainably into homeownership, but rather by building affordable rental housing; and helping local communities provide a level of service adequate to the needs of their residents.

This program aired on February 3, 2011. The audio for this program is not available.